Great Britain -- History -- 18th century -- Sources; Pitt, William, Earl of Chatham, 1708-1778; Walpole, Robert, Earl of Orford, 1676-1745
But your great comfort is, that as His Majesty's patent does not oblige
you to take this money, so the laws have not given the crown a power of
forcing the subjects to take what money the King pleases. For then by
the same reason we might be bound to take pebble-stones or cockle-shells
or stamped leather for current coin, if ever we should happen to live
under an ill prince, who might likewise by the same power make a guinea
pass for ten pounds, a shilling for twenty shillings, and so on, by
which he would in a short time get all the silver and gold of the
kingdom into his own hands, and leave us nothing but brass or leather or
what he pleased. Neither is anything reckoned more cruel or oppressive
in the French government than their common practice of calling in all
their money after they have sunk it very low, and then coining it anew
at a much higher value, which however is not the thousandth part so
wicked as this abominable project of Mr. Wood. For the French give their
subjects silver for silver and gold for gold, but this fellow will not
so much as give us good brass or copper for our gold and silver, nor
even a twelfth part of their worth.
Having said thus much, I will now go on to tell you the judgments of
some great lawyers in this matter, whom I fee'd on purpose for your
sakes, and got their opinions under their hands, that I might be sure I
went upon good grounds....
I will now, my dear friends, to save you the trouble, set before you in
short, what the law obliges you to do, and what it does not oblige you
to.
First, You are obliged to take all money in payments which is coined by
the King and is of the English standard or weight, provided it be of
gold or silver.
Secondly, You are not obliged to take any money which is not of gold or
silver, no not the halfpence, or farthings of England, or of any other
country, and it is only for convenience, or ease, that you are content
to take them, because the custom of coining silver halfpence and
farthings hath long been left off, I will suppose on account of their
being subject to be lost.
Thirdly, Much less are you obliged to take those vile halfpence of that
same Wood, by which you must lose almost eleven-pence in every shilling.
Therefore my friends, stand to it one and all, refuse this filthy trash.
It is no treason to rebel against Mr. Wood. His Majesty in his patent
obliges nobody to take these halfpence,[5] our gracious prince hath no
so ill advisers about him; or if he had, yet you see the laws have not
left it in the King's power, to force us to take any coin but what is
lawful, of right standard gold and silver; therefore you have nothing to
fear.
Public-domain text, read in full here on John Shaqi.
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